Open Orphan PLC Option to Acquire CHIMagents Limited
July 15 2020 - 2:00AM
RNS Non-Regulatory
TIDMORPH
Open Orphan PLC
15 July 2020
RNS Reach
15 July 2020
Open Orphan plc
("Open Orphan" or the "Company")
Option to Acquire CHIMagents Limited
Open Orphan plc (ORPH), a rapidly growing specialist CRO
pharmaceutical services company which is the world leader in the
testing of vaccines and antivirals using human challenge clinical
trials is pleased to announce it has signed an option to acquire
(the "Option") CHIMagents Limited ("CHIMagents") for a nominal
sum.
CHIMagents was recently established to assist in the design,
manufacture and testing of challenge agents for use in challenge
studies. CHIMagents was established by an experienced team and have
made great progress across a number of workstreams which will be
highly valuable as part of the broader Open Orphan Group.
CHIMagent's Adrian Wildfire has over 20 years of industry
experience and will join hVIVO as Director, Scientific and Business
Strategy.
Under the terms of the Option, Open Orphan will have three
months to exercise its option to acquire CHIMagents. Upon
execution, CHIMagents will be a standalone company within Open
Orphan.
CHIMagents will support hVIVO with the design, manufacture and
testing of both new challenge agents and hVIVO's industry leading
portfolio of 8 existing challenge study agents. CHIMagents will
also support hVIVO's growing pipeline of challenge study clinical
trials and help in accelerating the development of hVIVO's Covid-19
challenge study clinical trials.
hVIVO's pipeline of challenge studies is expected to grow
further given the increasing importance and focus on developing
vaccines and anti-virals globally. Therefore, the Option is an
important strategic step for Open Orphan as it brings additional,
experienced resources to the Group and will ensure that Open Orphan
can meet the increased demand for its services as the world leader
in the testing of vaccines and antivirals through the use of human
challenge clinical trials.
Cathal Friel, Executive Chairman of Open Orphan, said:
"We look forward to working with Adrian Wildfire and the
CHIMagents team going forward and this Option is an important
strategic step for the business as we rapidly grow our pipeline of
challenge studies. The work CHIMagents is undertaking in relation
to COVID-19 challenge agents also complements our own work and we
look forward to updating all shareholders on that workstream in due
course. We have real momentum across the Group and this Option
further cements our position as one of the leading service
providers to the developers of vaccines and anti-virals
globally."
For further information please contact
Open Orphan plc +353 (0)1 644 0007
Cathal Friel, Executive Chairman
Arden Partners plc (Nominated Adviser and +44 (0)20 7614
Joint Broker) 5900
John Llewellyn-Lloyd / Benjamin Cryer /
Dan Gee-Summons
+44 (0) 20 7220
finnCap plc (Joint Broker) 500
Geoff Nash / James Thompson/ Richard Chambers
Davy (Euronext Growth Adviser and Joint
Broker) +353 (0)1 679 6363
Anthony Farrell
+44 (0)20 3757
Camarco (Financial PR) 4980
Tom Huddart / Hugo Liddy
Notes to Editors - Open Orphan:
Open Orphan is a rapidly growing niche CRO pharmaceutical
services company which is a world leader in the testing of vaccines
and antivirals through the use of human challenge clinical trials.
Conducted from Europe's only 24-bedroom quarantine clinic with
onsite virology providing individually isolated rooms and connected
to our specialist laboratory facility. Which offers highly
specialised virology and immunology laboratory services to support
pre-clinical and clinical respiratory drug, antiviral, and vaccine
discovery and development. Reliable laboratory analysis underpinned
by scientific expertise is essential when processing and analysing
clinical samples. Robust quality processes support our team of
scientists in the delivery of submission ready data.
The Company has a leading portfolio of 8 viral challenge study
models which are: 2 FLU, 2 RSV, 1 HRV, 1 Asthma, 1 cough and 1 COPD
viral challenge models. As announced in early March, Open Orphan is
rapidly advancing a number of Coronavirus challenge study models
and expects to be helping many COVID-19 vaccine development
companies to test their vaccines. No other company in the world has
such a portfolio, with only two competitors globally having 1
challenge study model each. In June 2020 hVIVO COVID Clear Test was
launched, the most accurate antibody test available to UK
employers, helping them to get their people back to work.
Open Orphan comprises of two commercial specialist CRO services
businesses ( hVIVO and Venn ) and is developing an early stage
orphan drug genomics data platform business. This platform captures
valuable genetic data from patient populations with specific
diseases with designated orphan drug status and incorporating AI
tools. In June 2019, Open Orphan acquired AIM-listed Venn Life
Sciences Holdings plc in a reverse take-over and in January 2020 it
completed the merger with hVIVO plc. Venn, as an integrated drug
development consultancy, offers CMC (chemistry, manufacturing and
controls), preclinical, Phase I & II clinical trials design and
execution. The merger with hVIVO created a European full pharma
services company broadening the Company's customer base and with
complementary specialist CRO services, widened the range of the
Company's service offerings.
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END
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